Denbury Resources (DNR) Files $1B Senior Debt Shelf

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Denbury Resources, Inc. (NYSE: DNR) as filed a registration statement with the Securities and Exchange Commission ("SEC") relating to the public offering of $1.0 billion of senior subordinated notes due 2023. Denbury intends to use the net proceeds from the offering to fund the repurchase of any and all of its $426.4 million aggregate principal amount of 9.75% senior subordinated notes due March 2016 and any and all of its $224.9 million aggregate principal amount of 9.5% senior subordinated notes due May 2016, for which tender offers were announced earlier today. The remaining proceeds from this offering will be used for repayment of current borrowings under its bank credit facility and then for general corporate purposes.

BofA Merrill Lynch, J.P. Morgan, Credit Suisse, Wells Fargo Securities, Credit Agricole Securities, and RBC Capital Markets are acting as joint book-running managers for this senior subordinated notes offering.

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